1954-04-02 — Page 9

Page

Queen Mother And Princess Margaret At The Rates

THE CHINA MAIL, FRIDAY, APRIL 2, 1954.

Princess Margarét in a full length fur coat and class-Atting hat, and Queert Elizabeth the Queen Mother, also with a fur, walking to the paddock on the first day of the Grand Military Meeting at Sandown Park recently, ➡ Central Press.

The English Language In India-

To Be Or Not To Be?

Bombay, Mar. 31.

A controversy is raging in India today over the future role of the English language in the country.

While advocates of English state “English is ours: it is not a foreign language." Its opponents declare that the "craze for the continuance of English is a slavish mentality left behind by alien rulers.”

Nowhere is the controversy more heated than in the cosmopolitan city of Bombay where a recent state Government order to schools prohibits the admission of pupils whose mother tongue is not English to schools where the medium of instruction is English.

The President of the Bombay | The Governor of Uttar Congress Committee, Mr S. K. Pradesh, Mr K.M. Munshi, Paul, has called this order the a broadcast on "The Future of "illiest thing under the sun." | English" said:

"History has placed in our hands a powerful Opponents of English, who weapon for spreading Indin's number among them Bombay's message throughout the world. Chief Ministër, Mr Morarji We would betray

ancient our Desai, ore in favour of replac heritage and future desting if Ing English by Hindi об re- we were to allow it to rust, To- glonat languages as speedily as day, English is ours, with it we possible, in Parliament, in Uni-can make

felt ourselves versitles and schools and as the throughout the world. It would,

or neglect English in this English today holds undis- puted sway in the Central and country," he declared. State Pürliainents and in the Courts of Law throughout India, as well us being the language in which all ofeial administra- tion is carried on,

Operation

"Native Son”

Attracts

language of the administratich, therefore, be erlining to ignore The Fan Mail

It is the medium of lastruc- tion in the Universities and lu the majority of schools,

It is also the official language

"Should Be Proud"

Mr Munshi admitted that English could not in the future be what it was in the past, be- enuse India's cultural and po- itten future depended upon in as the national language,

|

Wiesbaden, Germany,

Apr. 1.

The postman brings about 100 letters a day to the headquarters here of the United States Air Force in Europe from: inen and women wanting to join its expanding civilian "ground He urged that there should staff." The letters come be "progressive displacement" from Britain, Norway, Italy, of English by Hindi. This was Spain, and Iceland

saying and trade is also conducted in not the same thing as

that English should be replaced forthwith, irrespective of the consequences.

of the Army, Navy and the Air Force.

Much of

English.

India's

commerce

Desol Mr Morarji

recently said that English as a language was correctly understood and spoken by about two per cent of the people of India.

People's Language

should not forget the value of

THE IDO

PIERCE SECTION

Quiet Week On Japan Building Russia Defaults

Hongkong Share Market

By A Special Correspondent

The Hongkong Stock Exchange Bässed through one of its quietest weeks of the fear this week. Prices of utility, shares eased slightly yesterday as investors held off awaiting Jower rates, leaving the market as a whole quietly steady,

Banks slipped from the high levels of last week through an increase in scrip available and lack of buying interest. Brokers reported they had to split big parcels of Banks and Unions to get rid of the shares.

The spotlight turned away from uulitles-with, perhaps, the exception of Yaumati Ferries—and focussed on two sections which have drifted into a backwater in recent months. They were rubbers and Shanghai shares. !

The Shanghai shares can be point of view the share has iest disposed of quickly. It will be some of the gloss it had on its noticed that both the buyers' way up to the $1,700 mark. For rates of Docks and Lands have as the price ros so the yleid crept

up in the last month, declined. Docks from $1.10 on February 26 to $1.33 yesterday and Lands

Six to eight months ago. Banks were an attractive buy from, 3 from $1.10 on February 20 to a sale yesterday afternoon at $1.50. speculators' as well AA On Brokers say this can be nothing me they were only $1,350. investors' view point. At that more than wishful thinking in Demand grew and then, as the the extreme. There is certainly | De no news to justify any interesi. P between the yields of utilities and Banks narrowed, Two rubber shares-Amal- accelerated rapidly as the share gomated Ruber and Rubber is regarded as n gill-edged Trust-have also risen in the stock. last month

ond this is undoubtedly due to better rates ruling at the Singapore sales. Yesterday rubber sold for 572 cents a pound which is airhost a 10 per cent increase oft the rates ruling in February:

Amalgamated Rubber, 85 cents on February 26 was selling yesterday at between 92-94 cents and Rubber Trust is up 50 tents to $1.50 over the same period.

Brokers feel this interest is not likely to be, sustained in view of the statement of the retiring Chairman of the Rubber Growing Association, Mr P. L. Boglim in London earlier this week that "the short term out- look for rubber was hot too encouraging."

1 sald carlier "the spotlight focussed. A pretty wan light

It was at that.

| a

There was some activity in Youmatis which changed hands at $139 yesterday on rumours of

bonus issue shortly.

SATISFIED INVESTORS

Bicycles In Pakistan

A Joint-phil-Pakiriku plan to build a 6löyőle plant at Daces and Karnchi la beginning in tako shapë," Was inhellrißel tallay..

It

Me Relji Konums of the Dal Nippon Machinery Company and Me Yukichi Tokuyama of the Nichibet Fast Bicycle Company re- Lurned to Japan on March 27. from a series of talka with Pákirian Government belala They also made an on-the-spot survey.

*

The plan envisagen Joint undertaking by Japanese machinery vidkers and the Pakistaji · Governi~ mérit,

Pare

On

Dollar Pact, Pays In Sterling

A four-year default by the Soviet Govern- ment on compensation due to Canada's great International Nickel Company has been ended by the Canadians agreeing to accept sterling instead of dollars, according to reports from London..

The amount is £1,040,000. It has now been paid into London after talks between the Govern- ments of Canada, Britain, and Russia.

Thus the Russians have won the night--and lost their reputa- tion. The payment is the final instalment of £7,142,000 com- pensation the Rikslaris agreed to pay and

The Japan Bicycle In- dustry Association

was first approdclied by Pákis- fan last Sorimer with an offer to construet ppfeilö two plants

In

Pakistan as a joint enter- Brise-United Press,

NEW YORK

STOCK MARKET

New York, Apr. 1. Chemicals replaced Alf crafts today in the stock market spotlight, featuring a rise which boosted the increase in market Value of all listed stocks to $3,000, It would be tempting to con000,000 in the past five clude that they have résched their peak ajid w/11 now sessions.

stocks had gains Chemical gradually slip back bat as long as gilts remain strong on the ranging to more than 3 points. London market it is hard to see

Selected oli, steel, motor. a substantial fall in price.

electric equipment and

a host of special Industrial shares also moved up sharply.

TODAY'S SHARE MARKET

(From Our Correspondent)

Business on the Stock Ex change this morning amounted to $347.742.50. Noon quotations and the morning's dealings:- 9DANES BUYɛrs bellENS SALER

BANKS

HK Bank

East Aala ... 170

INSURANCES

Union Lombard

K: What XD 0915. Dock XD

Provident

(0) XD S'hat Dock Wheelock

In the utilities' section ono broker said the dullness was because "investors seem satisfied DOCKS, ETC. A number of dividends with what they got last month." were the balance slicets and raised, future prospects thoroughly

the analysed;

very mysteries which keep interest alive in that section of the share market LAND, BC, have been bared, and ruthlessly exposed. Illusion is now reality. In short, there's no fun in it for the time being.

HK Hotel HK Land

1090 107 1200 10 1685

000 870 0014

71

18.00

13 250 e 12.00

B 8.10 5000 66.0%

Ralls again performed better than they have recently, ex- tending yesterday's sharp gains by a point or so in some issues.

Aircrafts, mainsprings of the steady rise in industrials, were fill again by pront-takling which cut prices of recent leaders... Boeing off 1%, Douglas off 14, United Aircraft a point lawer, Glenn Martin down %.

bad

Martin again wax the active leader and other aircrafts also heavy tuthover.

US Stent followed Martin in the actives, rising a point to a new high at $43.

"Inco" for its nickel mines

at Petsamo.

They were taken by the Russlans La 1944 as part of the armistice between Russla and Finland

The Russians agreed to pay. for the mines over six years — in U.S. dollars up to December 1051. In 1050 the Russians

went back on the agresineat, offering to pay the remaining instalments huif in dollars and halt in sterling.

The

Canadians took the dollars, but refused the sterling, for under British exchange con trol

the they could not swap sterling for dollars.

Since then the Russians have

defaulted. "Inco's" chairman Mr J. F. Thompson reveals that the sterling has been accepted.

it

This money will be drozen in London, where Inco" will use

for its plant in Britain. Thus the Russians lose the one reputation they held in

Britain that whatever its other faults the Soviet met its financial

obligations in full.,

No doubt the Carodian Gov- who handled the com- ernment pensation pact, decided it better to get sterling nothing.

was than

could ally have met this small Russia has plenty of gold-ļḥ | debt in dollars, observers say.

CHICAGO GRAIN MARKET

Chicago, Apr. 1. Grain markets were again

PETSAMO

FINLAND,

The Petsamo nickel miner are on the root of the earth. hear the former

Russian Finland bordér, They are one

of the world's major sources of nickel, keu metal in jet engines and other armaments. Canada controls néarly 80% of the world's supplies.

No Fears Of A Slump

In

America

of the National City Bank of

London, Apr. 1. The Executive Vice-President

New York, Mr Alan H. Temple, said in London today the post- bility seemed remote that the American recession might tur into a cumulative downward spiral.

"Our financial position 15 irregular today. Wheat became strong and liquid. Our economy

on predictions of dry, is dynamic. Armer

Our affairs, have windy conditions in the South-been kept in reasonably good

tho during

next West

86 order" he told a lunch of the hours,

American Chamber of Com- Experts reported there may mette. be a good crop of winter wheat,

Stabilising however, If ruins

influences come soon which put on breaks as recession, enough.

are substantial. We Rye prices advanced strongly believe we can come down from

proceeds because of new government

out bdom peak and meet the restrictions on

tyo Im-

problems that the reaction im in the can quota

President Eisenhower tinued market strength flee ports.

poses on us without disaster." yesterday ordered quotas of tion of Inertased optimism over 31,000,000 pounds of rye,

Mt Temple admitted that rye

Americans felt at present they the business outlook, stemming four

for the and rye meal In Large part from the

three months beginning April 1

were suffering a slump.. $1,000,000,000 excise tnx

"We do not deny it. We feel cut and for 188,000,000 pounds for ve which went into effect today. the year beginning

may even be approaching the July 1. Of 1,195 issues traded, 647 Pr

levelling out point of that slump, were higher, with 122 at new unrestricted and played a large seriously but we

rye imports were We do not take our affairs too Previously

CHEMICAL GAINS

Gains in the chemicals ranged to 81⁄2 points in Hooker Electro- chemical at $71. Wall Street saw

highs for the year, and 290

are talking

Old crop, soybeans declined about something which is pre- 20000 lower, with eight touching new part in trading fluctuations: 1000 8.05 lows.

when stop loss selling orders un-sent and not something which in Turnover amounted to 2,270,-covered only limited buying in anticipated in the future”. 9.5 9.18 500d in

000

with terest Bares, compared 6215 63!!

2,000,000 yesterday-heaviest Soybeans figured in the news

today

that the Commodity Ex-

ลง 300 61

112 1.60 18.70

EXO 2.13

Tram XD

2000 28,70 500

Blar Ferry

S'hai Land Humphreys Realty UTILITIES

However good the prospects may be for issues like Lights. Electrics and Telephones, with the prices of their commodities" controlled, their future earnings are somewhat stereotyped and restricted by this limiting factor.

to Bands.

For Which bri

Ich brings the to

5. Hail (N) 13.70 ah this shore suffers

Electrie the

....81 82 Telephone Imitations with rent

132 133 100 às 122 100 152

c. Light (0) 18.70 16.00 1000 10.20

same

may go

con-

for

PUOTIS

1000 10,70

500 @ 10.79

1000 à 10,30

1000 49 10.70 |

volume since September 15.

when the current advance got change authority has called on underway:

futures commission brokers for The NY Stock Exchange bond a full

оп soybeans report volume was $3,310,000, and the futures in the Chiengo Bodri of American Block Exchange Trade as of Marth 31. volume was 540,000 shares.

The survey came after many Dow Jones closing averages Industry complaints of excessive

speculation Insoybean future were

Apt 1 and that the bodh ptices have advanced sharply in relation to

500 13.70 30 industrials

500 4 20 rails.

100

29.99

ja talities

29 20,30

1000 29.20

292063 stacks

3000 # 20:20

40 bonda

Comin, futurs price index

106,27 102,07

56.19 soybean oil.

Reuter.

Singapore Rubber Market

Singapore, Apr. 1. The rubber prices were higher with sellers reserved on proved trade enquiry. closings:

int- Future

No. 1 rubber per ib.

114.00

April

0731-074

100.08

cents:

soybeans off 5 to up

May

181.00

June

134 cents.

7 rubber perto. April

At Winnipeg,

Was No. 3 rubber per It. April 56-66)

--United Press.

Wheat closed up 24% to 8.

Staff officers here are making an Air Force economy drive to replace about 10,500 Americans about 8,500 local civilians in by "In whatever hurry we may administrative and maintenance be to eliminate English Indian constitution, while gly-West Cormany,

(the jobs in camps in Britain, France; Austria and Hindi the status of an French Morovo by the end of official language, allows it 15 June. years to grow to that stage), we sen", is intended to free air

The scheme, dubbed "Native English in the immediate pre- men for more important work, "This makes it all the more [sent, nor its importance in giving the force greater striking necessary to have Hindi as a shaping our future. English to bower at less cost-

dar

unifying

Many of the letters are from common language, the language is a powerful understood by the mass of the factor in our national life. It is people who want to go brad, although

the language of administration But their chances are dim, fortrols on existing buildings there people throughout the country," he added. "Posterity will not at a higher level, of law and the Air Force is seeking people is, theoretically, no liialt to the forgive us it, after political in scholarship, of inter-regional who will work at the camps

height rents. dependence, we fail to evolve a and International Intercourse," nearest their homes. lingua franca', India has

he raid.

under con In buildings now Delvers, echarles, carpon-struction. Practically, of course, People's Government and it

ters, plumbers, warehousemen there It was through English that storekeepers, clerks, typists and dictated

19 a celling but this is INDUSTRIALS must have a people's language.

by obligation Cement That is the correct approach to India maintained the high level stenographers are

more being en med, perhaps,

Metal Indvist. with a little the problem. There is no force or her intellectual and scientific gaged.

ond or compulsion In this regard,"

training

achievement. The ainmen and American apprehension as to the public's STORES, ETC. India's Intercourse he added.

with the elvilians whom

reaction to overhigh rental Dairy *****.27.30 28.10 1900 á 24 they replace whole world depended upon return to the United States ready

New York, Apr. 1. charge's. India's Minister for Informa-English, and so did her ambl- to man new Air Force wings.

In: Crawford

World No. 4 sugar futures tion to

today

closed secure speedy in-

This comparative freedom in cOTTONS

unchanged to Spet dotermining fellectual, scientific and literały

has Dev rentals

Textile Corp 7.60 4.0 1000 20 three points higher with sales May 2200 217WL)*

July advancement

undoubtedly helped Hongkong

500 7.00 of 206 contacts.

September 1009 @ 1.00 The scheme began in Novem-Innds and is responsible for the

Domestic No. 8-sugar futures. December The legal standard in theber auth the Air Force aimed at current Interest

1000*100 closed unchanged to two poin's in the share, country also depended upon the engaging 2488 civilians by the now at $88,

2000 69 700 Совет

Spot Jower with sales of 329 con- May Il has not stopped Jaw Berature of the Anglo bit of last year. It is hoped to rising since the new issue terms Mis

- tracts.

July Saxon, world.

raise the number to about 5,500 were announced last month.and

World futures steadied. on September there is nothing on the horizon

trade

buying and the Ather December basis for raws,

1

any

FIRST GOAL

Officers said that it'

tion and Broadcasting. Di B.V. Keskar, has said that the basic defect of the present educa- tonal systain in the country could be traced to the medium of instruction in English.

"For the past 150 years, we have liten utilasing English as ut cannot Imagine

by the end of Matth the present which threatens to check its a médilen of our higher educa-

Supreme Court Judge with recruling rate continued, they present firmness. tion: When it was first intro- duced it might

respect of course thought the whole 8,500 would served the delivering judgment in Fund have been found. By if this week was selective. Brun purpose of bringing us into con with the Lact with the outside world but thought and expression as in

Lieutenant General it har on the other hand trip English for a considerable me manduseliince of One United of interest in utilities until, say,

47-year-old Com of Indian to come," said Mr Munshi,.. the growth languages and therefore of

States Air Force In Europe, who Thalah thought' and cultures,". he

The Fresident of Bombay commanded the Allied Talk shit.

Congress Committee, Mr SK. Force which few supplies into Patil, has said: The English

during the 1948 CAD Bovibi WU. like the

plod

great

süme

Recuracy

Watson

සඳ

1000

1000

100 @ 2.05

500

18.30

20

Yauall x 140 143 2:00 a 141′

To this exient, the demand

Cool there will be little renewal

Electrica come down to B31 or lower and Trams to $28,

Allied Invest

NO ANXIOUS BELLERS "However theto atd vertainty"

*This Cultural subservience to language is one of our national blockado, amich 2 foteljum country is most dam- possessiphs, of which we ought gramine and are very happy | nú mikibus seliöes at the moment. nging to the growth of burd He proud. In our struggle for we have books able to go ahead with uillies yielding between personality and the develop beration, it was this language with think 38. In coming alt tid, seven per cont. ment of our thoughts.”

which provided a cementing dait would able the There Was net appare

borg

fatté.

Education Minister

Mr Dinkarrao Dest), has raids Paul added: "Even today men exponible in combat alta che son that from the point of view of resolutions of all parties, fsclude bha mo make for "condit Indian civilsation and emiture, -ing the Indian National Con- in the support and supply, the crape for the continuance of grass are conceived discdised | by. Trphethe talemen Englan representsaznavisti - aid Trazima priimkrily Sin Enga Europor Jonly 13 DA 'mentality""/Lert" bebine üzemden kian, tesco translation 18 by a form helt tillhe

ruldrkal

bther,"language"===RmLLIBERÝMS

4.02

London Foreigu

Exchange

New York Sugar Market

Domestic

wheat

priced at 1782 cents a bushel No. 4 rubber per ib. April for No. 8 Northem, and for No.Spot rubber anbaled...... 5 It was at 103 cents a bushel.No. 1 pale Crepe

Extant crepe kick United Press,

Untied Press. "CHICAGO PRICES

LONDON MARKET Chicago, Apr, 1...

London, Apr. 1 Prices por bushel'in conte:

The rubber market was strong Clower Prizes with No. 1 Res spot quoted at Wheat, No. 2, red...

17% pence per 16. Prices:

Ra............... 1754-17% X1-220% No. 1 shot house terin:

were. July

Junk

2017/Sept.

Oct/Dec.

Jan./Mar.

Canerai imárkats, dit basin, parke:

May

121-114 Corn, Nb, 2, yellow.",

158

70451044

April

May

Juno

10781-100

110-111

Boybeans, No. 2, yellow

futures bigy Irregular in mixed dealings. Dealers salt cand refiners, at Apt May York were New

unloading July going raw, sugar today, despite September, Navbather the waterfront strike. M

Jarnary

Future closings; ›

Contract No. 4 (world)

dar

July

dötüber,

Jetsskey) (1985; -

Mento

Spat

3801-256% 330-887

23-2561

Harley

100, 120-163: atsakymai United Press

New York Cotton

Prices

Prices of cotton futures cibeiði today na follows:

thick Estale trepe

2713-1727

17-8/18-371

173-1712

unquoled

thing unquoted

United PH.

NEW YORK MARKET Bad New York, Apr. 1

Rubber futures closed today 55 to 60 points higher, with water: of 211 contracts, ANTARKALARY No. 1*R###pot were quoted at 194 cents per lb. Futive closings were:

MAY

July